Pearey Lal & Sons Pvt. Ltd., New Delhi V. ACIT, New Delhi

MA 2/DEL/2011

• Counselvise Citation: [2011] 123 COUNSELVISE.COM (IT) 7191 (ITAT-DELHI)
• Duration Of Justice: 9 month(s) 3 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 07-10-2011
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: F
• Assessment Year: 2007-2008
• Appeal Filed On: 03-01-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MRS ANUSHA KHURANA
• Assessee Lawyers: R M MEHTA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH `FRIDAY E: NEW DELHI BEFORE SHRI C.L.SETHI, JUDICIAL MEMBER AND SHRI K.D. RANJAN, ACCOUNTANT MEMBER M.A.NO.02/DEL/2011 (IN I.T.A. NO.1266/DEL/2010) ASSESSMENT YEAR : 2007-08 M/S. PEAREY LAL & SONS PVT. LTD., ASSTT. COMMIS SIONER OF INCOME-TAX, 42, JANPATH, NEW DELHI. VS. CIRCLE 14(1), NEW DE LHI. PAN: AAACP0003B (APPLICANT) (RESPONDENT) APPLICANT BY : SHRI R.M. MEHTA, ADVOCATE. RESPONDENT BY : MRS. ANUSHA KHURANA, SR.DR. O R D E R PER C.L. SETHI, JUDICIAL MEMBER THE ASSESSEE HAS FILED THIS MISCELLANEOUS APPLICATI ON IN RESPECT OF THE TRIBUNALS ORDER DATED 5 TH OCTOBER, 2010 PASSED IN THE ABOVE REFERRED APPEAL. 2. IN THE MISC. APPLICATION, IT HAS BEEN STATED BY THE ASSESSEE THAT ADDITIONAL GROUND MOVED ON 21.05.2010 AND ADMITTED BY THE TRIBUNAL FOR HEARING VIDE ORDER DATED 2.06.2010, HAS NOT BEEN DI SPOSED OF WHILE DECIDING 2 THE APPEAL. THE ASSESSEE HAS, THEREFORE, MADE A PR AYER THAT THIS MISTAKE BE RECTIFIED BY DISPOSING OF THE ADDITIONAL GROUND OF APPEAL AFTER HEARING THE PARTIES. 3. WE HAVE HEARD BOTH THE PARTIES AND GONE THROUGH THE ORDERS OF THE AUTHORITIES BELOW. IT IS NOT IN DISPUTE THAT THE A SSESSEE FILED AN APPLICATION FOR ADMISSION OF ADDITIONAL GROUND ON MAY 21, 2010. THE ADDITIONAL GROUND RAISED BY THE ASSESSEE IS AS UNDER:- THAT THE AO ERRED BOTH ON ACTS AND IN LAW AND IN N OT EXCLUDING FROM THE TAXABLE INCOME THE FOLLOWING SUM S EVEN AFTER NOTING THAT THESE WERE EXEMPTED FROM TAX: 1. INTEREST ON TAX FREE BONDS RS.2,82,206/- 2. DIVIDEND RS.2,63,119/- 4. THE TRIBUNAL THEN VIDE ORDER DATED 2.06.2010 ALL OWED THE ASSESSEE TO RAISE THIS ADDITIONAL GROUND OF APPEAL AND MATTER W AS THEN ADJOURNED TO 5 TH OCTOBER, 2010. APPEAL WAS THEN HEARD ON 5.10.2010 AND THEREAFTER, ORDER WAS PASSED ON 5.10.2010 ITSELF. IN THIS ORDER, THE AFORESAID ADDITIONAL GROUND TAKEN BY THE ASSESSEE, HAS NOT BEEN CONSIDERED AND DISPOSED OF, WHICH IS A MISTAKE RECTIFIABLE UNDER SEC. 254(2) OF THE ACT. WE THEREFORE, RESTORE THIS APPEAL TO ITS FILE FOR A LIMITED PURPOSE TO DECIDE THE AFORESAID ADDITIONAL GROUND OF APPEAL RAISED BY THE ASSESSEE. THE REGIS TRY IS HEREBY DIRECTED TO FIX THIS APPEAL FOR HEARING ON 12.12.2011 FOR A LIM ITED PURPOSE TO HEAR AND 3 DECIDE THE ADDITIONAL GROUND OF APPEAL RAISED BY TH E ASSESSEE. WE ORDER ACCORDINGLY. 5. IN THE RESULT, THE MISCELLANEOUS APPLICATION FIL ED BY THE ASSESSEE IS ALLOWED. 6. THIS DECISION WAS PRONOUNCED IN THE OPEN COURT O N 7 TH OCTOBER, 2011, IMMEDIATELY AFTER THE HEARING WAS OVER. SD/- SD/- (K.D. RANJAN) (C.L. SETHI) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 7 TH OCTOBER, 2011. COPY OF THE ORDER FORWARDED TO:- 1. APPLICANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR BY ORDER *MG DEPUTY REGISTRAR, ITAT.